BTR Daily - March 17, 2026 - Red Cedar lands $75M investment

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NEWS ROUNDUP

FUNDRAISING: Red Cedar lands $75 million investment to expand BTR platform. Red Cedar Construction Services has secured a $75 million strategic investment from L.M. Sandler & Sons to expand its BTR and multifamily platform nationally. Jon Grabowski, CEO of Red Cedar, said the investment strengthens the company’s balance sheet and supports its vertically integrated model. Steven Sandler said L.M. Sandler & Sons chose Red Cedar for its disciplined execution and focus on institutional rental housing.

ACQUISITION: CAPREIT acquires 157-unit BTR in South Carolina. CAPREIT has acquired Hart Townes, a 157-home single-family BTR community in Spartanburg County, South Carolina. Andrew Kadish, CAPREIT’s CEO and chief investment officer, said the acquisition expands the firm’s presence in the single-family rental market and positions Hart Townes as a strong addition to its portfolio.

DEVELOPMENT: Cavan Companies closes on land for 154-home BTR project in Nebraska. Cavan Companies has closed on the land for The Bungalows at Prairie Hills, a planned 154-home single-story BTR community in Papillion, Nebraska. Norm Miller, CEO of Cavan Companies, said the project reflects strong demand for housing that sits between apartments and homeownership.

DEVELOPMENT: Center Park Group starts work on 65-home project. Center Park Group has begun land development at Cadia Grandview, a 65-home BTR townhome community in Raleigh across from Crabtree Valley Mall, with the project having broken ground in January 2026 and leasing expected to start in the second quarter of 2027. Brian Herring, Raleigh division president of Center Park Group, said the project reflects the importance of strong developer-builder collaboration and the long-term growth of the Raleigh market, while Tom Walsh, EVP and COO of Pappas Properties, said the site is one of the most dynamic and well-located in the market and fits the Cadia brand’s focus on wellness, design, and community.

READ: BTR developers sound alarm over senate housing proposal.

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